An Evaluation of Policies to Resolve the Trade Deficit |
Common terms and phrases
adjustment aggregate expenditure Alan Richards Arndt billions budget deficit changes closed economy comparative advantage current account curves subscripted David Kaun debt crisis debtor countries decline demand for non-tradables demand for tradables dollar domestic Donald Wittman effect equilibrium expenditure rise Factor Markets February Federal Reserve fiscal expansion global improve the trade Income inelastic International Monetary Fund intersectoral labor macroeconomic market for non-tradables Michael Hutchison monetary policy money prices Nirvikar Singh non-tradables demand non-tradables sector Peggy percent in 1981 price of tradables private expenditure Purchasing Power Parity Rational Expectations real appreciation real exchange rate reduce relative price resource redeployment Richard Berg Richard Musgrave Ronald Grieson sector specific shift Suzanne Holt tends tradables and non-tradables tradables demand curve tradables industries tradables production tradables sector tradables supply curve tradables to non-tradables trade action trade balance deteriorates trade balance improvement trade policy U.S. Department U.S. exports U.S. trade deficit world prices world tradables prices